This amendment expands the types of investments the state treasurer may hold beyond specie and specie legal tender to include treasury inflation protected securities, gold exchange traded funds, real estate, and gold and silver mineral-producing companies, and makes certain investment provisions discretionary rather than mandatory.
- Expands the definition of eligible investments to include treasury inflation protected securities, gold exchange traded funds, real estate, and gold and silver mineral-producing companies, in addition to specie and specie legal tender. (Page 1, lines 3-4)
- Changes the state treasurer's duty from mandatory ('shall') to discretionary ('may') regarding implementation of the article. (Page 1, line 14)
- Adds a condition that investment in precious metal leases or bonds is permitted only 'if market conditions warrant.' (Page 2, lines 2-9)
- Expands the types of eligible investments to include treasury inflation protected securities, gold exchange traded funds, real estate, and gold and silver mineral-producing companies. (Page 2, lines 11-14)
- Specifies that risks the state treasurer must insure against include 'a black swan event' in addition to inflation, debt defaults, and other risks. (Page 2, lines 16-17)
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